The UK sold approx 400 tonnes of gold under Gordon Brown (about half our gold reserves). At todays prices that’s about £16 billion.
Very interesting interview with Phillip Hammond (then Shadow Treasury Secretary) by Max Keiser
If you decide to sell a shed load of Gold Bullion like Gordon Brown did back in 1999 you would not announce it to the world before doing so . Even a 7 year old kid wouldn’t do that. This has been debated in parliament and all laughed away in the banter we see in the commons but in reality it’s far from a laughing matter
As discussed in the video it’s much easier when you know the price and timing of a motivated seller.
The UK sold approx 400 tonnes of gold under Gordon Brown (about half our gold reserves)At todays prices that’s about £16 billion